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1st of November 1995 News
Ειδήσεις όπως εμφανίστηκαν στην πρώτη σελίδα των New York Times στο 1 Νοεμβρίου 1995
COMPANY NEWS;DETAILS PROVIDED ON PLAN FOR GLOBAL SPORTS NETWORK
Date: 01 November 1995
AP
The News Corporation, headed by Rupert Murdoch, and Tele-Communications Inc. said yesterday that they had formed an alliance to obtain sports programming and televise it worldwide. As expected, the News Corporation, which owns the Fox network, and Tele-Communications, which is based in Englewood, Colo., will each own 50 percent of the venture. Each company will contribute TV channels and sports-programming rights to the venture. The partners said the assets were valued at more than $2 billion. Under the arrangement, the News Corporation has agreed to pay $300 million in cash to the Liberty Media Corporation, the programming arm of Tele-Communications, said Chase Carey, the chairman and chief executive of Fox Television. The News Corporation is based in Sydney, Australia.
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Managed Care Will Need Family Doctors;The Medicare Question
Date: 02 November 1995
To the Editor: Your Oct. 26 front-page article on The New York Times-CBS News Poll on budget choices highlights the question that pitted balancing the budget against preventing Medicare cuts, a question that provided less than zero information.
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NEWS SUMMARY
Date: 01 November 1995
International A3-12
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NEWS SUMMARY
Date: 02 November 1995
International A3-15
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COMPANY NEWS;MIDCOM COMMUNICATIONS PLANS A MERGER
Date: 01 November 1995
Bloomberg Business News
Bloomberg News
Midcom Communications Inc. said yesterday that it planned to merge with Telco Communications Group Inc. and an affiliate of Telco, Tel Labs Inc. Midcom, which is based in Seattle, leases telephone lines from national carriers and sells long-distance service to businesses. It signed letters of intent to buy the stock of Telco Communications and Tel Labs, which are privately held, for about 16 million Midcom shares, worth about $240 million at the close of trading yesterday. The stock transfer will give shareholders of Telco and Tel Labs 51 percent ownership of the combined company. Telco provides long-distance services to 1.6 million residential customers in 15 states and the District of Columbia. The company, based in Chantilly, Va., markets its services under the name Dial & Save. Midcom stock was up $1.25, at $15, in Nasdaq trading.
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COMPANY NEWS;PHARMACIA SHAREHOLDERS APPROVE UPJOHN MERGER
Date: 02 November 1995
Reuters
Shareholders of Pharmacia A.B. of Sweden have approved a merger with the Upjohn Company, the last major hurdle before the deal creating the world's ninth-largest drug maker is completed. Pharmacia said yesterday that shareholders owning 96 percent of the company's voting stock had approved the merger, which was announced on Aug. 20. The new company, to be called Pharmacia & Upjohn Inc., will be based in London and will have offices in Stockholm, Kalamazoo, Mich., and Milan, Italy. Trading in the new shares will begin tomorrow in New York and on Monday in Stockholm.
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COMPANY NEWS;PREMARK TO SPIN OFF TUPPERWARE DIVISION
Date: 02 November 1995
Bloomberg Business News
Bloomberg News
Premark International Inc. said yesterday that it would spin off its Tupperware subsidiary to shareholders. Tupperware, which makes plastic storage containers, is the company's largest and most profitable business, with earnings of $200 million on sales of $1.3 billion last year. The spinoff of Tupperware, based in Orlando, Fla., will leave Premark with the PMI Food Equipment Group and Wilsonart International, among other businesses. The remaining Premark units earned $156 million last year on revenue of $2.1 billion. The company, based in Deerfield, Ill., said it decided to spin off the unit because the nature of direct-selling businesses like Tupperware differed from its other businesses.
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COMPANY NEWS;MERGER OF FLEET FINANCIAL AND SHAWMUT IS APPROVED
Date: 01 November 1995
AP
The Justice Department approved the merger of the Fleet Financial Group and the Shawmut National Corporation yesterday after Fleet agreed to sell 64 of its 850 bank branches to maintain competition in New England banking. The 64 branches have about $3 billion in deposits. The $3.7 billion merger deal was announced in February 1995. The branches to be sold have more than $300 million in commercial loans in Massachusetts, Connecticut, New Hampshire and Rhode Island. Twenty-eight of them, with $1.6 billion in deposits, are near Hartford. Fleet, based in Providence, R.I., has branches in Maine, Rhode Island, New Hampshire, New York, Connecticut and Massachusetts. Shawmut, based in Hartford, has 350 branches, in Rhode Island, New Hampshire, Connecticut, Massachusetts and Florida.
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COMPANY NEWS;CORDIS REJECTS OFFERS FROM JOHNSON & JOHNSON
Date: 02 November 1995
Bloomberg Business News
Bloomberg News
The Cordis Corporation rejected Johnson & Johnson's $1.6 billion hostile takeover bid yesterday, calling the $100-a-share cash offer inadequate. Cordis, a Miami-based maker of medical devices to treat heart disease, also rejected Johnson & Johnson's offer to negotiate a stock swap valued at $1.7 billion, or $105 a share. Johnson & Johnson, based in New Brunswick, N.J., said it would press ahead with plans to remove the Cordis board through a consent solicitation and called its $105-a- share offer "full and fair." Johnson & Johnson, the nation's largest maker of health care products and drugs, made the bids on Oct. 19 after Cordis refused to meet to discuss a merger. Shares of Cordis rose $1.75 yesterday, to $112.25, a 52-week high on the New York Stock Exchange.
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COMPANY NEWS;NATIONAL VISION TO CLOSE AND SELL SOME OPERATIONS
Date: 02 November 1995
Reuters
National Vision Associates Ltd., an operator of eye care centers in Wal-Mart stores, said yesterday that it would close or sell its secondary operations in the United States and France by the end of the year. National Vision also said it would take a third-quarter pretax charge of about $2 million to reduce operations and write down assets of a frame manufacturer that the company received in foreclosure proceedings earlier this year. National Vision, based in Lawrenceville, Ga., said it would concentrate on its primary businesses in the United States, which include more than 100 Wal-Mart Vision Centers. Shares of National Vision fell 20.3125 cents, to $3.625, in Nasdaq trading.
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